MIRA
INFORM REPORT
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Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
NATIONAL FOOD
PROCESSING CO QATAR WLL |
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Registered Office : |
Gulf Ice Cream
and Dairy Factory, Industrial Area, P O Box 7006, Doha |
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Country : |
Qatar |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
13119, Doha |
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Legal Form : |
With Limited Liability – WLL |
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Line of Business : |
Operators of a meat mincing, processing and packaging plant. Engaged in the
wholesale and retail of food and ice cream for hotels and restaurants. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : NATIONAL FOOD PROCESSING CO QATAR WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 1991
Commercial Registration Number : 13119, Doha
Issued Capital : QR 3,000,000
Paid up Capital : QR 3,000,000
Total Workforce : 75
Line of Business : Subject operates several divisions (see below for details).
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
NATIONAL FOOD
PROCESSING CO QATAR WLL
ADDRESS
Registered & Physical Address
Location : Gulf Ice Cream and Dairy Factory
Area : Industrial Area
PO Box : 7006
Town : Doha
Country : Qatar
Telephone : (974) 4810250 / 4600860 / 4600250 /
4600891
Facsimile : (974) 4601763
Email : icecream@qatar.net.qa
Premises
Subject operates from
a medium sized suite of offices and a factory that are leased and located in
the Industrial Area of Doha.
KEY PRINCIPALS
·
Sheikh Tamer
Mohamed Jaber Al Thani Managing
Director
·
Sheikh Talal
Mohamed Jaber Al Thani Director
·
Sanjay Shatti General
Manager
·
Michael
Mascarenhar Factory
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form :
Sharikat Thet Massouliya
Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 13119, Doha
Issued Capital : QR 3,000,000
Paid up Capital : QR 3,000,000
Name of Shareholder (s)
·
Sheikh Tamer
Mohamed Jaber Al Thani
·
Sheikh Talal
Mohamed Jaber Al Thani
Note to the Legal Form
A limited liability company must have between two and thirty members. Its minimum capital cannot be less than QR 200,000. The capital is divided into shares of not less than QR 1,000 each. The company must keep a register of members. The liability of members is restricted to the nominal value of their shares in the registered capital.
LINE OF BUSINESS
Operations : Subject’s activities are performed through
the following divisions:
·
Meat
Processing Division
Operators of a meat mincing,
processing and packaging plant.
·
Trading
Division
Engaged in the wholesale and retail of food and ice cream for hotels and
restaurants.
Import Countries
: Europe and Saudi Arabia.
Brand Names : UNIKAI and FADECO.
Operating Trend
: Steady
Subject has a
workforce of 75 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency : Qatari
Riyals (QR)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Sales QR 27,500,000 QR 28,390,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Qatar National
Bank SAQ
PO Box : 1002
Doha
Tel : (974) 4413511 / 4407407
Fax
: (974) 4415020
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Doha Bank Ltd
PO Box : 3818
Doha
Tel : (974) 4435444
Fax
: (974) 4416631 / 4410625
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1991, subject is owned and managed by Sheikh Tamer Mohamed Jaber Al Thani and
his brother Sheikh Talal Mohamed Jaber Al Thani who are well respected in the
local business community.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed a fair trade risk. As such the above credit figure is
within subject’s financial means.
Maximum suggested
credit figure: US$ 500,000
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)